FY2024 EPS Estimates for Russel Metals Cut by Stifel Canada

Russel Metals Inc. (TSE:RUS) – Equities researchers at Stifel Canada reduced their FY2024 earnings per share estimates for shares of Russel Metals in a research note issued on Wednesday, October 16th. Stifel Canada analyst I. Gillies now forecasts that the company will post earnings of $3.05 per share for the year, down from their previous forecast of $3.23.

Several other brokerages have also issued reports on RUS. Stifel Nicolaus cut their price objective on Russel Metals from C$55.00 to C$52.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Royal Bank of Canada cut their price target on Russel Metals from C$47.00 to C$43.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 2nd. TD Securities raised Russel Metals from a “hold” rating to a “buy” rating and boosted their price target for the company from C$44.00 to C$46.00 in a research note on Monday, September 16th. National Bankshares dropped their price objective on Russel Metals from C$47.00 to C$46.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, BMO Capital Markets reduced their target price on shares of Russel Metals from C$46.00 to C$45.00 in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$46.93.

Russel Metals Trading Up 0.7 %

Shares of TSE:RUS opened at C$40.83 on Friday. The firm has a fifty day moving average of C$38.86 and a two-hundred day moving average of C$39.04. The company has a quick ratio of 1.44, a current ratio of 3.85 and a debt-to-equity ratio of 16.88. Russel Metals has a 12-month low of C$33.38 and a 12-month high of C$47.39. The firm has a market capitalization of C$2.40 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52.

Russel Metals (TSE:RUS) last posted its quarterly earnings results on Wednesday, July 31st. The company reported C$0.84 EPS for the quarter, topping the consensus estimate of C$0.83 by C$0.01. The business had revenue of C$1.07 billion during the quarter, compared to analysts’ expectations of C$1.08 billion. Russel Metals had a net margin of 4.87% and a return on equity of 12.67%.

Russel Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 16th were issued a dividend of $0.42 per share. The ex-dividend date was Wednesday, August 28th. This represents a $1.68 annualized dividend and a yield of 4.11%. Russel Metals’s dividend payout ratio (DPR) is presently 48.98%.

About Russel Metals

Russel Metals Inc operates as a metal distribution and processing company in Canada and the United States. It operates in three segments: Metals Service Centers, Energy Field Stores, and Steel Distribution. The Metal Service Centers segment operates a network of metals service centers, which provide metal products in range of sizes, shapes, and specifications, including carbon hot rolled and cold finished steel, pipe and tubular, stainless steel, aluminum, and other non-ferrous specialty metal products.